BIT Capital GmbH Sells 165,826 Shares of Snowflake Inc. $SNOW

BIT Capital GmbH reduced its position in Snowflake Inc. (NYSE:SNOW) by 97.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,481 shares of the company’s stock after selling 165,826 shares during the period. BIT Capital GmbH’s holdings in Snowflake were worth $983,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. GoalVest Advisory LLC boosted its holdings in shares of Snowflake by 221.4% in the 4th quarter. GoalVest Advisory LLC now owns 135 shares of the company’s stock valued at $30,000 after buying an additional 93 shares in the last quarter. Physician Wealth Advisors Inc. boosted its holdings in shares of Snowflake by 56.0% in the 4th quarter. Physician Wealth Advisors Inc. now owns 142 shares of the company’s stock valued at $31,000 after buying an additional 51 shares in the last quarter. HHM Wealth Advisors LLC boosted its holdings in shares of Snowflake by 50.0% in the 4th quarter. HHM Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $33,000 after buying an additional 50 shares in the last quarter. Ameriflex Group Inc. boosted its holdings in shares of Snowflake by 252.2% in the 3rd quarter. Ameriflex Group Inc. now owns 162 shares of the company’s stock valued at $37,000 after buying an additional 116 shares in the last quarter. Finally, JPL Wealth Management LLC bought a new stake in shares of Snowflake in the 3rd quarter valued at about $39,000. 65.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Canaccord Genuity Group raised their price target on shares of Snowflake from $240.00 to $325.00 and gave the company a “buy” rating in a report on Thursday, May 28th. Loop Capital lifted their target price on shares of Snowflake from $290.00 to $320.00 and gave the stock a “buy” rating in a research note on Wednesday. Rosenblatt Securities lifted their target price on shares of Snowflake from $275.00 to $285.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. The Goldman Sachs Group lifted their target price on shares of Snowflake from $216.00 to $278.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. Finally, Bank of America lifted their target price on shares of Snowflake from $205.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, thirty-five have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $290.87.

Insider Buying and Selling at Snowflake

In other news, Director Michael L. Speiser sold 50,338 shares of the stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $148.21, for a total transaction of $7,460,594.98. Following the sale, the director owned 29,396 shares of the company’s stock, valued at approximately $4,356,781.16. This represents a 63.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Frank Slootman sold 437,076 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $252.43, for a total transaction of $110,331,094.68. Following the sale, the director directly owned 38,046 shares in the company, valued at $9,603,951.78. This represents a 91.99% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,538,672 shares of company stock valued at $346,816,863 over the last 90 days. 4.80% of the stock is owned by insiders.

Snowflake News Roundup

Here are the key news stories impacting Snowflake this week:

• Positive Sentiment: Truist raised its price target on Snowflake to $300 and kept a buy rating, signaling continued analyst confidence in upside for SNOW.
• Positive Sentiment: Jefferies said Snowflake’s AI monetization opportunity is gaining traction and reiterated its buy rating with a $300 target.
• Positive Sentiment: Snowflake’s Summit 26 introduced new AI product upgrades and partnerships, reinforcing the company’s growth narrative in enterprise AI.
• Neutral Sentiment: Coverage comparing Snowflake with peers like MongoDB adds visibility, but it is more relevant to long-term positioning than near-term earnings impact.
• Negative Sentiment: Analysts and market commentary continue to flag margin pressure, competition, and a premium valuation as risks that could limit further upside.
• Negative Sentiment: Recent insider selling by Frank Slootman and Christian Kleinerman may create some overhang on sentiment despite being part of pre-planned trading activity.

Snowflake Price Performance

Shares of NYSE SNOW opened at $238.12 on Friday. The firm has a market cap of $82.32 billion, a PE ratio of -67.65 and a beta of 1.35. The firm has a fifty day moving average of $165.25 and a 200 day moving average of $190.55. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.30 and a current ratio of 1.05. Snowflake Inc. has a one year low of $118.30 and a one year high of $284.99.

Snowflake (NYSE:SNOW) last released its earnings results on Wednesday, May 27th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.07. Snowflake had a negative net margin of 23.79% and a negative return on equity of 50.50%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter in the prior year, the firm earned $0.24 earnings per share. The company’s revenue for the quarter was up 33.5% compared to the same quarter last year. As a group, research analysts predict that Snowflake Inc. will post -2.13 EPS for the current fiscal year.

Snowflake Profile

Snowflake Inc is a cloud-native data platform company that provides a suite of services for storing, processing and analyzing large volumes of data. Its core offering, often described as the Snowflake Data Cloud, combines data warehousing, data lake and data sharing capabilities in a single managed service delivered across major public cloud providers. The platform is designed to support analytics, data engineering, data science and application workloads with a focus on scalability, concurrency and simplified administration.

Key products and capabilities include a multi-cluster, shared-data architecture that separates compute from storage; continuous data ingestion and streaming; support for structured and semi-structured data formats; tools for data governance, security and compliance; and developer frameworks for building data applications.